Munich Re News

Brave New World: 1st Reinsurance Product Heads to the Blockchain

Second of Two Articles There has been a lot of press – and perhaps hype – about blockchain and its potential to revolutionize the industry’s processes and ultimately improve the customer experience. However, the efforts of the industry’s B3i initiative …

Munich Re, Aviva Ventures Invest in UK Connected Home Insurer Neos

Neos, a UK connected home insurer, announced last week it has secured a £5 million (roughly $6.4 million) series A investment led by Aviva Ventures together with strategic partner Munich Re. The strategic investment accelerates Neos’ growth as the UK’s …

Cyber Insurance Market Growing Slower Than Expected: Allianz

The tiny market for cyber insurance has been slower to develop than generally anticipated, a member of Allianz’s board said in an interview. The European market for cyber insurance currently has a premium volume of around 200 million euros ($224 …

Soft Reinsurance Prices to Continue Until Year-End – at Least: Fitch

The soft pricing in the global reinsurance market will continue, at least, for the rest of the year, Fitch Ratings says. Fitch expects premium rates to continue declining as a result of large amounts of under-deployed capital and sluggish demand …

Munich Re & Hannover Re Results on Track Despite Higher Nat Cat Claims

Reinsurers Munich Re and Hannover Re both reported that first quarter results are on track to meet their annual targets, despite Q1’s higher level of catastrophe claims. Munich Re reported consolidated first quarter profit rose 22 percent to €557 million …

High-Profile Cyber Attacks Drive Growth of Cyber Crime Insurance

For companies and organizations, an attack by hackers can inflict financial losses, corporate embarrassment and legal action. For insurers jumping into the brave new world of cyber crime insurance, it’s free marketing for what could be a $10 billion opportunity. …

Munich Re’s Primary Carrier, ERGO, Explores China Digital Business

ERGO, Munich Re’s troubled primary insurance company, is making a digital push in the massive Chinese market. Mark Klein, ERGO’s chief digital officer, recently visited China to explore how the insurer can partner on data with Chinese companies, such as …

Munich Re’s New CEO Wenning to Take ‘Hard-Nosed’ Approach

Joachim Wenning admitted he would not be to everyone’s liking long before taking the helm of Germany’s Munich Re. That hard-nosed approach could prove valuable as the 52-year-old tackles falling profits, disgruntled investors and headwinds beyond his control at the …

Global Insurance Industry Set to Grow by 4.5% in 2017-2018: Munich Re

The global insurance industry is set to grow more strongly at 4.5 percent per annum on average (3.0 percent in real terms, or adjusted for inflation) during 2017 and 2018, according to Munich Re. While premium income is likely to …

Munich Re, Beazley Partner to Provide Enhanced Cover for Large Cyber Risks

Building on their existing collaboration, Beazley and Munich Re’s Corporate Insurance Partner announced the creation of “Vector,” a partnership that aims “to bring innovation and capacity to the large cyber market.” Vector cements a relationship the two insurers forged a …